Granules India Limited · NSE:GRANULES
Granules India — Q1 FY27 Earnings Presentation
26 slides from Granules India's earnings presentation, Jul 21, 2026
Slide 1: Granules India Limited Earnings Presentation Q1 FY27
1 Granules India Limited Earnings Presentation Q1 FY27 21st July 2026 1
Slide 2: Safe Harbour Statement
Safe Harbour Statement The Presentation is to provide the general background information about the Company’s activities as at the date of the Presentation. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendatio
Slide 3: Management Commentary
Management Commentary Dr. Krishna Prasad Chigurupati “ Q1 FY27 marks an important step forward for Granules India as the foundations Chairman & Managing Director strengthened during FY26 begin to translate into greater execution confidence, strategic clarity and business resilience. Our focus remain
Slide 4: Q1FY27 Key Business Takeaways
Q1FY27 Key Business Takeaways Revenue up 22% YoY to ₹14,768 Mn with PAT +60% to ₹1,800 Mn and EBITDA +37% YoY Complex Gx mix now 50% of FD portfolio lifted gross margin to 65.6% and EBITDA margin to 22.9% (+256 bps YoY) Net Debt/EBITDA improved to 0.07x from 0.34x; ROCE up to 18.0% (~196 bps YoY) on
Slide 5: Quarterly Performance Q1 FY27
Quarterly Performance Q1 FY27
Slide 6: Q1FY27 Financial Performance
Q1FY27 Financial Performance ▪ Portfolio enrichment toward Complex Gx (50% of FD revenue, increased spending in complex pipeline) is strengthening quality of business. ▪ Strong EBITDA growth of 37% YoY, with capital discipline further supporting healthy free cash flow generation. ₹3,389 Mn ₹14,768 M
Slide 7: Q1FY27 Financial Performance
Q1FY27 Financial Performance ₹ Mn Focused investments in Complex Gx R&D and talent are enhancing our future growth prospects while reinforcing the quality of earnings Particular Q1 FY27 Q1 FY26 Y-o-Y Q4 FY26 Q-o-Q Revenue 14,768 12,101 22% 14,706 0% Gross Margin 9,690 7,850 23% 9,665 0% % of Gross M
Slide 8: Revenue Diversification: Segments and Regions
Revenue Diversification: Segments and Regions ₹ Mn ▪ YOY Higher Revenue growth of Finished Dosages contributed by Complex Gx. ▪ YOY Higher growth in Europe and Rest of World are enabling us to maximize return on R&D capital. Segments Regions 10,92710,691 12% 11% 9% 8,989 1,131 1,768 1,597 16% 17% 13
Slide 9: Granules Formulations Portfolio Segmentation
Granules Formulations Portfolio Segmentation Segment Definition Products where API is key; API forward integrated to value added PFIs and FDs (mid to high volume) Value proposition: Integrated Gx Backward integration/ Strategic tie ups Supply chain security and cost competitiveness Products with hig
Slide 10: Portfolio Architecture and Evolution
Portfolio Architecture and Evolution Accelerated growth in Complex Gx products resulting in 50% share of FD from 39% YOY basis Q1FY27 Q4FY26 Q1FY26 4% 5% 2% 9% 9% 10% 13% FD 13% 13% FD FD API API API PFI PFI PFI 74% Peptides/CDMO 73% Peptide/CDMO 74% Peptides/CDMO 46% Integrated Gx 50% Integrated Gx
Slide 11: Capital Efficiency and Allocation Discipline
Capital Efficiency and Allocation Discipline ₹ Mn Net Debt Net Debt/EBITDA NWC% to Sales Balance Sheet Strength continues YoY improvement 30% to 29% 34% ▪ Strong balance sheet and financial flexibility provide the 10,241 10,151 9,480 30% capacity to fund growth and navigate market 30% 29% 29% 28% 0.
Slide 12: Quarterly P&L Performance Trend (Last 6 Quarters)
Quarterly P&L Performance Trend (Last 6 Quarters) ₹ Mn Revenue 11,974 12,101 12,970 13,879 14,706 14,768 2% 2% 2% 5% 4% ▪ YOY 22% Higher Revenue growth of Finished Dosages contributed by Complex Gx. 77% 74% 74% 76% 73% 74% ▪ YOY Higher growth in Europe and Rest of World are steadily diversifying the
Slide 13: Quarterly P&L Performance Trend (Last 6 Quarters)
Quarterly P&L Performance Trend (Last 6 Quarters) R&D and % to sales EBITDA and EBITDA % PAT and PAT % 880 3,521 3,389 2,016 781 3,081 1,800 678 705 689 2,524 2,782 665 2,467 1,520 1,502 23.9% 22.9% 1,306 21.1% 21.5% 22.2% 13.7% 6.0% 20.4% 12.7% 1,126 5.6% 12.2% 5.5% 5.4% 5.3% 10.8% 5.0% 10.1% 9.3%
Slide 14: R&D Capability
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Slide 15: FD Portfolio Transformation: Scaling to Complex Gx
FD Portfolio Transformation: Scaling to Complex Gx R&D Pipeline Momentum FTF Amphetamine Extended-Release Tablet Sodium Oxybate Extended-Release Oral Suspension Sole First-To-File Filed Dossiers Segmentation Dossier Filing Trend 153 Total dossier Filed Integrated Gx Complex Gx Others Integrated Gx C
Slide 16: R&D Pipeline and Capability
R&D Pipeline and Capability Dossier Filing Status by Market R&D Centre Network UK 2 Genome Valley Integrated product development ROW 5 22 Pragathi Nagar Canada 8 CoE for CNS API; KSMs; Bio Lab (Enzyme) Europe 17 6 25 ANDA’s under approval with TAM of ~$40Bn* in US GPI R&D, USA CNS Finished Dosage; C
Slide 17: Quality Compliance and Audit Readiness
Quality Compliance and Audit Readiness Regulatory Audit Facility USFDA Inspection EIR Status GPI (Virginia) Apr’2026 ✓ 14 13 Gagillapur Aug’2024 Reinspection 10 GCH Packaging Dec’2025 ✓ Genome Valley Dec’2025 ✓ 4 Bonthapally Jun’2025 ✓ Jeedimetla Jun’2023 ✓ Unit IV Jun’2023 ✓ FY24 FY25 FY26 Q1FY27 U
Slide 18: Manufacturing & R&D Structural Advantage
Manufacturing & R&D Structural Advantage 10 39 Bn+ 39,360 441 6 Manufacturing Annual FD API Capacity R&D R&D Facilities Dosage Capacity (TPA) Scientists Centers Bonthapally API: 34,560 TPA Gagillapur FD: 26.8 Bn dosages | PFI: 23,200 TPA Jeedimetla API: 4,800 TPA | PFI: 1,440 TPA, Genome Valley FD:
Slide 19: Granules' Strategy and Execution
Granules’ Strategy and Execution Annual Update
Slide 20: Building Durable Earnings Through Strategic Execution
Building Durable Earnings Through Strategic Execution Consistent Growth Portfolio Upgrade Quality Upgradation Margin Expansion Capital Discipline • CAPEX investment of • 6 consecutive quarters of • Strengthening quality • Shifted from volume ₹5,547 Mn was made in sequential growth and compliance sys
Slide 21: Four Decades of Strategic Evolution
Four Decades of Strategic Evolution Foundation Forward Integration Scale & Diversify Transformation • Pioneered Paracetamol API in • Entered Finished Dosages – • Built world’s largest single-site • Pivoted into high-barrier India; cost leadership became a unlocking per-molecule margin MUPS facility
Slide 22: Multi-Engine Growth Drivers
Multi-Engine Growth Drivers Complex Generics Scale-up Peptide CDMO Ramp Geographic Diversification • CNS portfolio driving US volume • Senn Chemicals acquired Apr 2025. Swiss-based • Evolving from a North America-centric model to a CDMO with 60+ years in peptide synthesis multi-region value platform
Slide 23: Granules Purpose, Vision and Values
Granules Purpose, Vision and Values Granules India Limited | Earnings Presentation Q1 FY27 23
Slide 24: Sustainability at Granules: Decarbonization Commitments and Performance
Sustainability at Granules : Pioneering Innovation for Complete Supply Chain Decarbonization of Pharmaceuticals Commitments Sustainability Performance 45.7 % Scope1 and Scope 2 Absolute Reduction * *Over base year FY 23 Near-term, Long-term, and Net Zero targets (2050 or sooner), aligned to 1.5°C pa
Slide 25: Our CSR Journey: Empowering Communities, Enriching Lives
Our CSR Journey : Empowering Communities, Enriching Lives OUR GOAL OUR PROGRESS Touch 1 Million 4,50,000 + Lives by 2030 Lives Positively Touched FOCUS AREAS Skill Development 1,700 + trained through Pharma Pathashala since inception from 2017 Health 15,000 + Benefitted through Breast Cancer 85 Scre
Slide 26: Investor Communication
Investor Communication For investor relation – Granules IR desk Email: investorrelations@granulesindia.com www.granulesindia.com Ms. Payal Dave Payal.dave@in.mpms.mufg.com Mr. Irfan Raeen 532482 +91 97737 78669 Irfan.raeen@in.mpms.mufg.com GRANULES www.in.mpms.mufg.com GRAN:IN GRAN:NS Corporate addr